2023 2024 EduVark > Education Discussion > General Discussion


  #2  
June 15th, 2016, 03:22 PM
Super Moderator
 
Join Date: Mar 2012
Re: Avoid Foreclosure Bank Of America

As per my knowledge there is no need to avoid any Foreclosure of bank of America for home loan.

Foreclosure is a legal process in which a lender sells your property to recover its losses, including the balance of the loan and costs of collecting the debt and foreclosing on the property.

Foreclosure can occur for any of the following reasons:
Failing to make loan payments
In some cases, transferring ownership of your property without your mortgage lender's consent and paying off the debt
Otherwise violating the terms of your loan documents

The amount of first mortgage is equal to or less than:
$729,750 for a singlefamily home
$934,200 for a 2unit property
$1,129,250 for a 3unit property
$1,403,400 for a 4unit property

Process of Foreclosure for loan in Bank Of America:

The borrower is notified that the foreclosure process has begun
Foreclosure papers are filed with the court and served on the borrower and all other parties with an interest in the property
Hearings are held with the court regarding the foreclosure
The court issues a judgment and a foreclosure sale date is scheduled
Legal notices may be published in local papers
The house is sold at public auction


Quick Reply
Your Username: Click here to log in

Message:
Options



All times are GMT +5. The time now is 02:41 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
Content Relevant URLs by vBSEO 3.6.0

1 2 3 4 5 6 7 8